VipLoanShop
Complaint 38922 Details

borrowed $400 via internet, a person told me I would have to pay 120 in fee. took the bait cause i was desperate. so it i thought it would total 520 but instead so far they have withdrawn 120 every 2 weeks so far totaling 480. all along i was thinking i was paying down the loan until i checked for my balance via e mail, i have never been able to contact a person by phone ever since september when the loan was being processed over the phone. i was sent a message to contact the company to set a pay schedule but was kept on hold til i was told to leave a message. multiple phone calls failed so i was not able to set up any schedule. thinking since they were drawing 120 from my account that some of the money was toward the principal but i found out via email reply that i was fooled. not only do i still owe 520 the 480 i paid was applied toward finance charge of 30 percent, mind you i was getting charged this every 2 weeks. so since i was not able to contact anyone atleast 3 days before they draw money from my account they continued to just draw for finance charge.. they claim i never notified them or made arrangement to pay down the loan. they also claim that after the 5th automatic draw they will only apply 5 percent on the biweekly draw toward the principal. at this time i have stopped automatic draw from my account. i dont know if i should just write them a check for the full amount of 520 so i can get them out of my life or to fight it all the way.I am on bankruptcy n my lawyer doesnt even know I made this dumb move but i was desperate at the time.